Tax Partner Named Woman of the Year
Meyers Brothers Kalicka, an accounting firm based in Holyoke, Mass., announced that The Women's Partnership, a division of the Affiliated Chambers of Commerce of Greater Springfield, has selected Kristina Drzal Houghton, CPA, MST and MBK partner, as its 2008 Woman of the Year. Houghton is a wife and mother of two girls ages 9 and 15. She is the first woman to be named a partner at Meyers Brothers-Kalicka. She is also a community volunteer for several nonprofit organizations. As the director of the tax department of Meyers Brothers Kalicka, she sets a tremendous example for the many female professionals within the firm and within the industry, said the firm. A banquet is planned for May 21. CAQ Comments on Financial Reporting Improvements
In a letter to the Advisory Committee on Improvements to Financial Reporting, the Center for Audit Quality said it agreed with the overall direction of the recommendations in CIFiR's Feb. 11, 2008 Progress Report and outlined several comments and suggestions to help reduce unnecessary complexity and make financial information more useful and understandable for investors. Like CIFiR, the CAQ has been engaged in advancing the public dialogue on financial reporting through its Public Dialogue Tour. On April 8, 2008, the CAQ will host a dialogue event in Boston with featured panelists including Robert Pozen, chairman of CIFiR. For more information on this event, visit http://thecaq.org/events/PDT/boston/index.htm. The letter can be viewed at http://thecaq.org/newsroom/pdfs/CAQ%20Comment%20Letter%20-%20File%20No.%20265-24.pdf.
GAO Reports on Improving SEC Internal Controls
The Government Accountability Office has issued a report explaining 14 recommended improvements in the internal controls to beef up the Securities and Exchange Commission's accounting and financial reporting process. The report expands upon an earlier report issued last November by the GAO.
UBS Writes Down $19 Billion
In the latest sign of turmoil in the credit and mortgage industries, investment bank UBS has taken a write-down of $19 billion on its U.S. real estate and related structured credit positions, while Deutsche Bank has taken a $4 billion hit. UBS posted a first-quarter loss of $12.1 billion and will try to raise an additional $15 billion. UBS Chairman Marcel Ospel is also stepping down.
Clifton Gunderson Buys UHY's Arlington Fed Practice
Clifton Gunderson has acquired the Arlington, Va., federal government practice of UHY LLP effective April 1 in an effort to build its own presence in the Washington, D.C., area in the federal government sector. UHY partner Roger Von Elm will join Clifton Gunderson as a partner. Financial terms of the deal were not disclosed.
CCH Teams with BNA
CCH is working with BNA Tax Accounting to put the BNA Accounting Policy Practice Series on CCH's Accounting Research Manager service. CCH's primary accounting source information and interpretive guidance will be combined with BNA's analysis of auditing, governmental, internal controls management system, SEC literature and guidance.
Coalition Aims to Eliminate Unfair Taxes on Expats
The Asia-Pacific Council of American Chambers of Commerce and several American Chambers of Commerce in Asia have launched a coalition on behalf of Americans living and working abroad. The new coalition, to be known as the Alliance for a Competitive Tax Policy, seeks to eliminate the biggest tax increase on Americans working overseas in 30 years.
IASC Publishes Near-Final Version of IFRS XBRL
The International Accounting Standards Committee Foundation's XBRL Team has released the near-final version of the IFRS Taxonomy 2008, translating International Financial Reporting Standards into Extensible Business Reporting Language.
AICPA and AAML Host Divorce Conference
The American Institute of CPAs has joined up with the American Academy of Matrimonial Lawyers to hold their fourth National Conference on Divorce, taking place May 8 to 9 at Caesars Palace in Las Vegas, the site of many quickie marriages.
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